Guide

How to use a Gnosis Safe with Loop Crypto

Introduction

Loop Crypto’s Payments product takes the hassle out of paying with a multisig wallet, such as Gnosis Safe, via our WalletConnect integration. By using Loop for checkout, multisig owners can “turn on autopay,” so they do not need to go through the cumbersome multisig transaction signing process each time they want to make a subscription payment.

This guide will walk you through what to expect when using a Gnosis Safe wallet with Loop Crypto.

Subscribe & Pay

1) Connect Safe Wallet to checkout application

Navigate to the checkout page that is powered by Loop. This page is typically embedded within whatever service you are subscribing to. Start by clicking Connect wallet. You will then see an option to connect your MetaMask wallet or use WalletConnect. Since we’ll be using a Gnosis Safe multisig wallet, select WalletConnect.

WalletConnect option for connecting non-custodial wallet to Loop’s checkout flow.

A QR code will immediately pop up. If you do not see a QR code, ensure that “QR Code” and not “Desktop” is selected at the top of the pop-up. (FYI: you can toggle between the two options to see other wallets available via WalletConnect.)

Underneath the QR code, click the words Copy to clipboard.

WalletConnect login

Now that the link is copied to your clipboard, hop over to the Gnosis Safe app. Ensure that you are signed into the correct Safe Wallet that you intend to use for the subscription. Along the toolbar on the left-hand side, you’ll see an option for Apps. Click on Apps.

You will observe a WalletConnect tile as one of the app options. Click on that tile.

Gnosis Safe app options with WalletConnect

You will now notice an input box where you can paste the link you just copied. This will connect your Safe with the Loop checkout, and a notification will appear letting you know that you are now connected.

QR code input in Gnosis Safe for WalletConnect.

Do not click the red Disconnect button within the Safe Wallet until you are done subscribing. You should also make sure not to refresh the Loop checkout page until you are finished subscribing.

Disconnect functionality within Gnosis Safe.

2) Enter email address

Now that your Safe is connected, you’re ready to subscribe. Navigate back to the Loop checkout page. You’ll see a snippet of your wallet address colored in green indicating your wallet is connected.

The next step is to enter your email address. This allows Loop to notify you when the other signers on the wallet have completed their transactions. Once you’ve entered your email, click the blue button.

Loop Crypto checkout flow

Move back over to your Safe Wallet where your Safe Wallet will automatically prompt you to sign this transaction. Click Submit. The executor of the transaction will pay for gas. Gas is only paid by the user once during this initial sign-up.

Gnosis Safe transaction prompt.

3) Select token and subscribe

Once you have signed the transaction, come back to the checkout page where you will see an option to select a token that the company accepts as payment. The checkout UI will show you if you have sufficient balance in your Safe Wallet to purchase the subscription with a given token. If you do not have enough funds for the first subscription payment in a certain token, the token will be greyed out (see the USDC option below as an example).

It is important to note that the final ERC-20 amount paid may vary from what is displayed due to price fluctuations between now and when the transaction is confirmed. This is particularly relevant for multisigs where there may be a gap of minutes, hours, or even days between all signers confirming the transactions.

Select the token you want to pay in, and then hit Subscribe.

ERC-20 token selection within the Loop checkout flow.

4) Sign transactions to approve subscription

Once you hit subscribe, you’ll see 2 transactions appear on the Loop checkout page. The first is calling the allowance function for the selected token, and the second is setting the parameters of the subscription (e.g. amount and frequency of the payment). In order to sign these 2 transactions, you’ll need to return to your Safe Wallet one last time to sign these 2 transactions.

Your Safe Wallet will prompt you to sign the first transaction. Go ahead and click Submit.

Gnosis Safe transaction prompt.

A prompt to sign the second transaction will appear within your Safe Wallet in a few seconds. You will notice that the contract address is different. You are now interacting with the Loop smart contract that defines the subscription parameters. Click Submit on the second transaction.

Gnosis Safe transaction prompt.

At this point, you have completed all the steps on your end. It is now on the other keyholders of the multisig to sign their transactions. The other signers will see transactions pending approval within their Transaction Queues in Gnosis Safe. Once the other signers have completed their transactions, you will receive an email notification letting you know you’re officially subscribed!

Manage & Cancel Your Subscription

Within that email notification, you will have a link to open the Loop Customer Portal. Click that link and navigate to the Customer Portal where you can see all of your active subscriptions.

Since the Customer Portal is a separate application, you will need to reconnect your wallet. If you are still connected to the checkout, first click the Disconnect button within your Safe Wallet.

On the Customer Portal, click Connect wallet, and you will run through the same steps as above to connect your Safe Wallet. Once connected, you’ll see the portal as shown below with a card that details all the information about your subscription.

If you do want to cancel your subscription, you can simply click the Cancel button on the card. The end company whose service you are paying for may also provide a link to cancel your service within their user interphase.

Loop Crypto customer portal for subscription management.

October 31, 2022